According to various reports, a notable young entrepreneur in Australia is listing his thoroughbred breeding and racing empire for sale.
At 37, Nathan Tinkler, who amassed his wealth through a series of mining ventures, has stated that he no longer has the time to dedicate to the racing industry.
The potential sale of Patinack Farm, encompassing over 1,000 horses across a 3,300-acre property in Sydney alongside another 1,000 acres in Queensland, may also enable the billionaire to address his reported debts, which could reach up to $700 million.
Despite being recognized as Australia’s youngest billionaire at the age of 35, the electrician-turned-businessman is reportedly facing challenges in meeting creditor demands, with several of his companies on the brink of liquidation. Recently, Mr. Tinkler’s executive jet and helicopter were placed on the market by receivers.
Although the sale of Patinack is estimated to yield between $100 million and $200 million, finding a buyer may take several months.
